UPDATE:On Tuesday after Page Six reported on the fundraiser a rep said it’s been postponed. A source told us: “[Jeffrey] Hurant has decided that right now is not the right time to hold a fundraiser and cancelled it until further notice.”

Hell’s Kitchen nightclub Space Ibiza is having an unusual fundraiser Friday night — for Jeffrey Hurant, the CEO of rentboy.com, who was arrested last week when his site’s Union Square headquarters was raided.

Rentboy allegedly offered 10,500 male “escorts” to 2,500 paid subscribers, according to feds, who called it the “largest online male escort service.”

Hurant, who denies the charges, was busted with six others.

Space Ibiza said Friday’s proceeds will go to Hurant’s defense fund.

Hosts include Brandon Voss, Michael “Formika” Jones and others.

Gay activists have blasted the arrests as “harassment” against the gay community.

Hurant’s facing up to five years in prison and a fine of up to $250,000.